In 2023, Chinabank responded to the increased demand for financial services while staying true to its client-centric roots.

Our sharpened customer focus enabled us to sustain our strong growth momentum. We closed the year with 2.6 million customers and a net income of Php 22.0 billion, up 15%, which translated to a return on equity of 15.5% and a return on assets of 1.6%.

Chinabank remains as the 4th largest privately-owned domestic bank with total assets of Php 1.5 trillion, up 11%. Total deposits increased by 11% to Php 1.2 trillion. Our loan portfolio grew by 10% to Php 791 billion, driven by strong demand across client segments.

In 2023, we continued to refine our omnichannel approach, combining the high-touch warmth of personalized service with the high-tech efficiency of automation. We harnessed the power of our 10,662-strong team, our vast nationwide network of 648 branches and 1,069 ATMs and our robust digital platforms to deliver great customer experiences in-branch and online.

We implemented product enhancements like instant credit card issuance and client-facing application upgrades on InstaPay and our payment gateway. Meanwhile, our overall IT architecture is undergoing an overhaul, with a new cloud-first policy as part of our ongoing digital transformation.

For making customer-centricity, multi-channel interaction and personalized products and services the key drivers of our digitalization, Chinabank was named by Backbase as The Big Shift Champion of the Year. The award recognizes our successful transition from conventional to engagement banking.

Money has seen several transformations over time. It has traditionally been denominated, handled and transferred using physical forms, such as paper notes, coins and even valuable commodities like gold, precious stones or livestock. However, money is inherently numeric and digital, which now enables electronic banking, quick transfers and advancements such as e-wallets, digital-only banks and cryptocurrencies like Bitcoin.

Despite this digital shift, banking still revolves around fundamental principles of trust, integrity and strong foundations. Customers still value the ability to visit nearby branches and discuss their financial needs with familiar faces and to feel at ease when any concerns arise.

BDO aims to provide the best of both worlds by seamlessly integrating traditional and digital banking services. Customers can enjoy personalized service and convenience with our extensive branch network and friendly staff.

Additionally, our user-friendly digital banking apps offer a range of features for easy and enjoyable banking, including payments, transactions and investments. Plus, we offer exclusive rewards programs to enhance the overall customer experience.

As tourism increases and people travel more, visitors, foreign and locals alike, are looking for spaces where they can experience true Filipino hospitality.

Aiming to serve travelers and guests in areas where no branded hotel has gone before, SM Hotels signed a Master Franchise Agreement with Radisson Hotel Group to build 14 hotels in the country by 2028. This collaboration will introduce the global brand Park Inn by Radisson not only to primary destinations but also to areas where there is a need for good hotels. This complements our integrated property developments, stimulating domestic tourism and enabling greater economic activity.

An excellent addition to our portfolio is Lanson Place Mall of Asia – a hotel and serviced residences property development 15 minutes away from the airport using the Ninoy Aquino International Airport Expressway (NAIAX). Built in partnership with Lanson Place Hospitality Management Limited (LPHML), this is the first property in the Philippines of the Hong Kong-based hospitality brand.

Guests also get to enjoy our great local flavors from our à la carte menus, of which over a third is dedicated to sourcing local ingredients, products, and culture.

We also remain committed to sustainable efforts in support of MSMEs across our properties. More than 80% of our employees are locally hired, and we continue to promote local businesses and culture. These actions and achievements complement the vibrant tourism landscape and set new benchmarks in the local hospitality industry.

As the primary residential business unit of the SM group, we remain steadfast in providing Filipinos access to a sustainable and attainable cosmopolitan lifestyle. We build masterfully planned developments, for prospective homeowners to find their dream homes across key cities and emerging growth centers in the Philippines. 

We offer diverse real estate options as a partner of choice for residential and investment opportunities in the country. 

As of 2023, we have more than 180,000 residential units across our 67 developments in various key areas in the Philippines, including Metro Manila and other emerging growth areas beyond the city center, such as Tarlac, Batangas, Cavite, Laguna, Bulacan, Pampanga, Rizal, Iloilo, Bacolod, Davao and Cagayan de Oro.

The customer experience is at the heart of our mall operations. Whether it’s shopping, dining, entertainment, special events and attractions, We’ve Got it All for mallgoers.

We’ve innovated and introduced a seamless and enjoyable customer journey, tailored to cater to every family member’s experience.

We’ve elevated mall-going to a whole new level through “fandomination” that brings nationwide pop culture celebrations to life. This features Taylor Swift listening parties, K-Pop activations and concert film series of BTS, NCT, Beyoncé and Taylor Swift at SM Cinemas.

Immersive gaming and e-sports tournaments in our malls, particularly during SM Cyber Month, elevate excitement levels for gamers and gaming content creators. The unveiling of SM Game Park at SM Mall of Asia adds to this thrill, establishing it as an exhilarating sports destination.

Each of our 85 malls embraces the vibe of its community with the aspirations of the Filipino family at its core.

In 2023, SM Markets opened 12 new stores across the Philippines, expanding our reach and bringing quality products and exceptional service closer to Filipino homes. Two new SM Cherry branches in Aklan and Rizal further solidified our presence in key areas.

Following the iconic SM Turon (banana spring roll), SM Markets consistently brings innovation by introducing BBQ Master, which quickly became a favorite among our shoppers. Additionally, we expanded our dine-in options with Five Star Coffee, which is available in most stores, and opened 14 United Steak branches for a diverse dining experience.

With over 8,000 international items, including Japanese and Korean products, we proudly serve as the home of imported goods. Through exclusive partnerships, like our collaboration with Australian supermarket brand Coles, we continually expand our selection of high-quality imported goods. Local products and pasalubong (souvenir) items are also prominently featured.

We were honored to be recognized by the Philippine Daily Inquirer and Statista as Best in Customer Service 2023 in the Supermarket category. This award is a testament to our unwavering commitment to providing exceptional service and satisfaction.

Service is at the core of our values. Every interaction, product offering, and innovation is driven by our dedication to serving our customers with excellence. As we grow, SM Markets remain steadfast in delivering top-notch service, ensuring that every shopping experience with us is exceptional.